Under Contract

2 Park Port – Mont Vernon & Alton, NH

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A Stabilized Cash Flowing Two Park MHC Portfolio With 62 Total Lots

The Esterson MHC Team is pleased to present this 2 Park Portfolio near the Manchester NH MSA. The portfolio consists of 62 lots and 62 tenant owned homes. The communities are centered around stable and consistently growing markets with very limited affordable housing available, providing an investor a significant amount of achievable upside within this stabilized opportunity to raise rents to market.

The Manchester NH metro is home to over six colleges/universities and contains the Manchester Boston Regional Airport, a major New England travel hub with over 1.2M annual passengers. Manchester is the most populous city in New Hampshire and is about 18 miles south of the state capital of Concord and only 51 miles northwest of Boston, Massachusetts. The average medium home price in Alton is $535,000 and in Mont Vernon it is about $427,000.

The communities have 62 total mobile home lots, 62 tenants and all tenant owned homes. The lot rent only tenants currently pay a combined average lot rental rate of $460 per month, which is below current market rent estimated at $500+, based on a rent comparable survey. Current occupancy is 100%. The overall market can support substantially higher lot rents based on the limited affordable housing supply.

Both parks are year-round, all-ages communities. Rolling Acres consists of 40 lots and Mountain View consists of 22 lots. Both communities operate on private septic and well systems that are owned and maintained by the park. The landlord covers the water and sewer expense at both parks. The tenants pays for electric, trash and gas/propane services at both parks. The roads are paved & unpaved and in good condition. Neither park is in a flood zone or an opportunity zone. The tenant owned homes are mostly newer models and in good condition.

We are asking interested parties to submit their offers based on the park’s current financials. We will not be providing any pricing guidance. Given the location and metrics of the park, the deal should qualify for traditional recourse community bank debt.

Location Info:

Alton is located at the southern end of Lake Winnipesaukee, around the 4-mile-long (6.4 km) inlet known as Alton Bay. The town is a great vacation spot for people visiting the lake and Alton Bay. The town is served by five state highways. Distance from Alton to: Manchester, NH 39 mi.; Portland, ME 88 mi., Boston 91 mi., NYC 299 mi., Montreal, Quebec 255 miles. Mont Vernon is only 18 miles from Manchester, which is the most populous city in New Hampshire and is about 18 miles south of the state capital of Concord and only 51 miles northwest of Boston, Massachusetts. Manchester hosts six colleges/universities including Southern New Hampshire University. Manchester Boston Regional Airport is located just 7.5 miles south of the property. Over 1,200,000 passengers arrive or depart from this New England travel hub.

Offering Materials


Price : $Unpriced
Lots : 62
# of Parks : 2
Property Type : MHP
Status : On-Market
Address : 36 Third St, Mont Vernon, NH 03057
MSA/ST : Manchester NH MSA
Tenants : 62
Utility : Private
Occupancy Rate : 100%
Current Average Lot Rent : $461
Gross Income (All Income Sources) : $328,175
Deal # : 1144.1
Property ID : 8462

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Glenn Esterson

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